Innovest Global Adds $5 Million Revenue From Four New Building Supply Members

106 Days ago

Authority National Supply (ANS) adds Four New Members in First Sixty Days Since Being Acquired by Innovest

CLEVELAND, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST) (the "Company" or "Innovest"), a conglomerate with operations in commercial and industrial products and services, biotechnology, construction and building materials, continues exceptional organic growth, this time announcing that its Construction & Building Materials Division, anchored by ANS, closed four new members in January and February, adding an expected $5.2 million dollars in revenue for 2019.

ANS added a single new client in the previous two years, and this announcement is exactly the growth track ANS CEO Tony Crookston and Innovest president Damon Mintz envisioned when the acquisition closed. “Starting the year with four new members representing 17% revenue growth is exactly the Innovest model as I’ve come to know it,” said Crookston. “Innovest is focused on growth, and strength, and working with me to make the ANS vision a reality. I’m impressed and couldn't be happier with our initial progress.” These early gains support Innovest’s guidance released last week of 20% organic growth to $50 million in gross company sales for 2019, and strongly reinforce Innovest’s focus on adding value to the company.

The new, proudly-welcomed members are Prairie State Exteriors, 55 Building Supply, Butler County Edge Co, and Acorn Roofing Supply. Brent Fening, owner of Butler County Edge, stated, "After 20 years of being in business, one of the hardest aspects of staying profitable is the ability to compete with the larger roofing distributors. We are very excited to join ANS. We look forward to working with a group of businesses like our own to increase our purchasing power and strengthen our business."

The “Source of Strength” is a philosophy at Innovest which places a focus on making its subsidiaries as strong as possible, resulting in their success and therefore Innovest’s success.

Look for much more to come soon on a variety of open initiatives!

About Innovest Global, Inc.Innovest Global, Inc. (OTC Markets: IVST) is a conglomerate with operations in commercial and industrial products and services, energy, biotechnology, and health services. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, a Biotechnology Division, and a Construction & Building Materials Division.

Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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